Bad credit is something that no one wants to hear. Especially when someone has been trying to take up a loan but has been denied by the banks. There are several reasons why your credit score is low and it is not just because of your credit history.

There are a number of reasons why your credit score is low and your credit report is damaged. Most of the time, people with poor credit histories are the victims of identity theft. Identity theft happens when someone takes advantage of a person’s information. This may happen when people get into car accidents, apply for loans, and even purchase products online. These people sell their personal information to identity thieves, and they get the money.

When someone steals your identity, your credit report will be affected, and you will be denied a loan because your credit report looks bad. This is because the company that is giving you a loan will look at your credit report before they issue you a loan.

The reason behind this can be anything from late payments, unpaid bills, CCJs, defaults, late payments, etc. But how do you get a credit card with bad credit?

To get a credit card with bad credit you need to meet the following criteria:

You must have a regular income

It is not just about earning a high income, it is about having a regular source of income that you can use to pay for monthly expenses. You can’t get a credit card with bad credit if you don’t have any source of income.

Credit Score should be higher than 640

Your credit score must be higher than 640 to get a credit card with bad credit. This is because it indicates that you are responsible and a good borrower.

You should have a stable income

If you don’t have a stable source of income then you shouldn’t expect to get a credit card. The banks look at the stability of the person. If your income is not reliable then you should consider taking a loan or applying for a personal loan instead.

You should be able to prove the income

You need to have proof of income in order to get a credit card. It can be your bank statement or your salary slip.

If you are planning to get a credit card with bad credit then you need to be ready to prove your income and the proof can be in the form of bank statements.

Conclusion:

There are a lot of people who have bad credit and they don’t know how to get a credit card. The best way to get a credit card is to apply for a loan.